A vanguard of MNOs in the US, the EU, Japan and South Korea, is aggressively working with the vendor community to push forward the likely commercial releases of 5G network elements. 5G network elements now being tested by multiple MNOs and vendors are potentially going to be ready for commercial deployment as early as 2019. Most of these trials are focused on the 5G New Radio (NR) air interface, experimenting with millimetre wave radio frequencies to test the new capabilities of 5G. This Research Note examines the evolving expectations for the impact that 5G networks and their projected capabilities will have on the IoT ecosystem and automotive IoT solutions, a top target segment for MNOs and OEMs involved with the build out of 5G services.